Requirements:

1) Using the data below and T-accounts, convert the cash basis income statement to accrual basis in appropriate professional Excel format (i.e., use cell referencing and formulas, no hard coding numbers).

2) In the T-accounts and Income Statement, all account titles should be added using cell referencing. See the first T account for an example.

3) T-accounts should have a beginning and ending balance, as well as a description of what transaction increases and decreases the account. See the first T-account for an example.

1) Correct formatting of T-accounts including accounting title, beginning balance, ending balance, brief description of transaction that increases account, brief description of transaction that decreases account

2) Solution - Income statement in good single step format. Note the expenses may be in any order.

3) Appropriate use of Excel - Use of cell references for labels, account names and amounts if given in problem data and use of formulas for all calculations

No plant, property or equipment was sold this year. Analysis - 3 points Asset and Contra Asset Accounts Accounts receivable Beg Cash Rec'd Revenue End Liability Accounts Solution - 4 points Ramirez Consulting Income Statement (Accrual E Year ended 12/31/25 Revenue Expenses Net Income